The first annual report from Property Redress Services, one of the three government-approved redress schemes applying to both the sales and lettings sectors, says the body now has 3,800 agents on board.
The report - which runs only from last summer, when the organisation was set up to provide ombudsman-style services, until the end of December - says that by the end of 2014 there were 2,506 agents on board. Some 31 per cent at that time were registered for sales and 79 per cent for lettings, obviously with some registered for both.
The report’s regional map shows the redress scheme is particularly strong, predictably, in southern and eastern England - where it has over 60 per cent of its member agents - but has only 13 agents across Scotland as of the end of 2014.
There is no data on the type of complaint handled by PRS - this will appear in the 2015 annual report.
However, PRS also says some 112 other property professionals joined voluntarily including inventory clerks and corporate landlords had also joined.
“This progress has far exceeded our expectations for growth, suggesting the property agent sector is far larger than any of us had imagined” according to Lord Monroe Palmer, chairman of the PRS’s advisory council.
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Impressive figures for the PRS, although Lord Monroe Palmer claiming that the property sector is 'far larger than any of us had imagined' seems a little ridiculous. It seems we're more than aware of how vast the property agent sector is.
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